A debit entry made to the unearned revenue account and credit entry made to the revenue account at the end of the period is referred to as a(n)
A)accrual.
B)deferral.
C)correcting entry.
D)closing entry.

Question

Quizplus · Accepted Answer

An accrual is a debit entry made to an expense account and a credit entry made to a liability account to record an expense that has been incurred but not yet paid. In this case, the debit entry is made to the unearned revenue account and the credit entry is made to the revenue account, which is the opposite of an accrual. Therefore, the correct answer is A.

A Debit Entry Made to the Unearned Revenue Account and Credit